Chapter#06: Merchant Settlement (POS Reconciliation):Card & Payment: Credit Debit Card Domain
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- Опубликовано: 10 авг 2017
- Chapter-5 Part-2: Merchant Settlement (POS Reconciliation):Card & Payment: Credit Debit Card Domain
Card and Payment Expert...
Tutorials on Credit Card, Prepaid and Debit Card Domain
Issuing and Acquiring System
By Ramesh Chugh
Can't thank you enough for the videos, rich material with simple explanation
Very good materials for learning about transaction workflow...Thanks a lot..
Very nicely explained.Thank you!
Very well explained sir.
Thank you so much 💓
Thnx a lot
Hi Ramesh,I really appreciate the way you clear the concepts. Thank you for that!I am new to the Cards and Payments domain and want to explore more. Can you please suggest any other reference or guide which can help me to dive in? I would also appreciate anyone seeing my post commenting on my request.
Sir should we have to compulsary press the settlement option or can we do it at weekly one....????
Good work Ramesh, another one in the bag :)
Thanks
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Hi Ramesh
Nice videos... also, any videos on real time payments, please?
Hi ji...can you tell why merchant splitting settlement for one authorization...if the merchant got authorization for the amount of 1000 ..in settlement they submitted 500 two times
Hi Ramesh, In this exception case when the acquirer update the batch with missing transaction received in 0320 from POS machine whether acquirer will initiate an authorization advice to issuer or it will be directly sent as part of clearing? If it is sent as part of clearing directly then issuer won't find a matching authorization in issuing system. Just curious to know.
Hi Ramesh Sir,
What if 5th transaction was missing at acquirer's end. What would acquirer do then? I believe pos terminal would still send 0320 messages for all the 11 transactions to acquirer before sending final 0500 message? Please let me know
Is any full course on card and payment system?
It's really useful to learning and Thank you so much! looking forward to see more videos
I am working on to release something on HSM Keys.
Please stay connected with me on my youtube channel, I am working on a project to provide a platform where you can post all your queries and we will try level best to answer, you can also have chat with experts, we will soon be launching it. Thanks !
Introducing my website www.alltekkies.com,
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Hi Ramesh,
Your videos are really helpful and very well presented.
We are looking for more videos like this and specially we would love to hear credit card fraud system.
Does the recon takes place between pos- Acquirer system (or) Pos-Issuer system since the final destination is the issuer system?
Recon Happens from both Acquirer & Issuer since the first Point of sale happens at Acquirer and then the debit with Issuer. It is imperative for both acquirer and issuer to complete Recon for year end Audit.
Hi Ramesh, I truly enjoy your videos. My project will be testing an ATM. So, I am getting an idea of ATM transactions by watching your videos. Are POS and ATM transactions similar to each other and do you have videos for ATM?
Can you please post your question on my website alltekkies.com/
I will launch the website on youtube in a day or 2, just waiting for final changes. However you can post your question there. Thanks
can you pls provide you email?
Hi Ramesh,
Very useful information. I am very new to this domain. So might be asking a very silly question. I got confused after new batch creation from ACQ bank side. You said that for each transaction a 0320 MSG will be send to ACQ and with each 0320 batch will get increment by +1 from ACQ side. So you mean a new batch will be created for each 0320 msg like batch 00012, 00013,00014 or you were referring to batch as in transaction count will increased by +1? Because in the end you only mentioned one batch 00012 from ACQ side to be successful and closed.
A new batch will be created when the first 0320 message is received at the Acquirer. After that the counter will be updated with every subsequent 0320 message received for this batch.
Hi Ramesh, thanks for the informative videos. I have a query, what if the 11 th txn that is not found in acq, while reconciling , is the txn that has dormant account. Who will bear the liability. Merc or acq or payment system or issuerr?
for any offline Trxn or missing btw ACQ n merchant (dose not matter whether an account is dormant or not) normally liability goes to merchant followed by acquirer
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No understand
Acq will continue the same batch or not ?
The first batch at Acq will go to Error status when the reconciliation will fail. With the first 0320 message received, Acq will open a new batch and will start a transaction counter. With every subsequent 0320 message received for this batch, the counter will be increased by 1.
Getting confused little bit ...how the count finally matched ? From 11 to10
1) The POS sends the missing 11th transaction.
2) ACQ cannot find the original record for the 11th transaction.
3) ACQ has to honor the 11th transaction and thus, logs it in its system.
4) ACQ updates new batch with the 11th transaction.
What will be the batch number in 500 MTI after advises completed ?
Could not understand it completely however let me give you some info reg batch number.
Each POS sends a batch with its Merchant and Terminal Number, the batch is created in POS and Acquiring System when the 1st trxn is submitted and closed when merchant submit the business end of the day, next day again when the trxn is performed a new batch is open,.
I am currently working on to release something on HSM Keys.
Please stay connected I am working on a project to provide a platform where you can post all your queries and we will try level best to answer, you can also have chat with experts, we will soon be launching it.
Introducing my website www.alltekkies.com,
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Satya Siva Prasad Godavarthi
0500 is sent by POS and POS has not errored out the batch (the batch at Acq side had been errored out a new one had been opened, POS cannot close the batch before reconciliation is complete). Hence, the batch no. in 0500 will remain the same after the exchange of 0320 and 0330 messages has been completed.
Sir should we have to compulsary press the settlement option every day
or can we do it at weekly one....????
Not mandatory as such, it's upto the merchant.
It is a good practice because the payment will be initiated by the Acquirer to the Merchant only after the reconciliation process is done. By not reconciling the transactions, merchant would only delay their payment. Also, more transactions over a longer time means possible more number of issues during reconciliation.